4 ms·
It was stated in writing as 1% of shares at exit time, not as a number of shares. Again, I'm clueless about options. But this was way outside of silicon valley
by psyc 5y ago
It was stated in writing as 1% of shares at exit time, not as a number of shares. Again, I'm clueless about options. But this was way outside of silicon valley and among people who couldn't care less how things are done there. For example, there was no VC involvement.
- TameAntelope 5y agoThat's just... very abnormal. I've never heard of "percentage at exit". I assume it'd work mechanically by setting aside 1% of total shares for you, and keeping that leveled out at 1% after each dilution event or something. Honestly not that bad, good for them, bad for you I think, for exactly why it ended up not working out.